Benefits to Using a Licensed Realtor When Selling a Home

Selling a home can be a daunting task, especially for those who are not familiar with the real estate market. One of the best ways to ensure that the process goes smoothly and that the home sells for the best possible price is to use a licensed Realtor. Home prices have accelerated dramatically since the pandemic, so now is a good time to sell a home. Another factor pushing home prices higher is the low inventory of homes for sale. Mortgage rates today are also a lot higher than a year ago, current mortgage rates on 30-year loans are above 6.00 percent, last year 30-year rates were in the 3.00 range.

One of the main benefits of using a licensed Realtor when selling a home is their expertise in the real estate market. Realtors have a deep understanding of local market conditions, including current trends in home prices, the local economy, and what potential buyers are looking for in a home. They can use this knowledge to help you price your home competitively and to market it effectively to potential buyers.

Another benefit of using a Realtor is their ability to handle the legal and administrative aspects of the home-selling process. Realtors are familiar with the paperwork and regulations involved in selling a home and can help you navigate the process to ensure that everything is done correctly and on time. They can also help you with the negotiations, making sure that you get the best possible price for your home.

Loan Type

Purchase Refinance with Cash out Refinance

State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

FICO Score

Superior (780-850) Exceptional (760-779) Excellent (740-759) Very Good (720-739) Good (700-719) Above Average (680-699) Average (660-679) Fair (640-659) Need Improvement (620-639) Poor (350-620)

Loan Amount

$

Points

Up to 0 points Up to 0.5 points Up to 1 points Up to 1.5 points Up to 2 points Up to 2.5 points Up to 3 points

LTV

%

Loan Term

 15-Year Fixed  20-Year Fixed  30-Year Fixed  5-Year ARM  7-Year ARM  10-Year ARM

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The lenders whose rates and other terms appear on this chart are ICB's advertising partners. They provide their rate information to our data partner RateUpdate.com. Unless adjusted by the consumer, advertisers are sorted by APR from lowest to highest. For any advertising partners that do not provide their rate they are listed in advertisement display units at the bottom of the chart. Advertising partners may not pay to improve the frequency priority or prominence of their display. The interest rates, annual percentage rates and other terms advertised here are estimates provided by those advertising partners based on the information you entered above and do not bind. Any lender Monthly payment amounts stated do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Although our data partner RateUpdate.com collects the information from the financial institutions themselves, the accuracy of the data cannot be guaranteed. Rates may change without notice and can change intraday. Some of the information contained in the rate tables including but not limited to special marketing notes is provided directly by the lenders. Please verify the rates and offers before applying for a loan with the financial institution themselves. No rate is binding until locked by a lender.

Lender

APR / Rate

Fees / Points

Payment

NMLS #1661781

5.760%

15-Year Fixed

5.625%

$3,673

Includes 0.625 points for $2,500

Lender Fees: $1,173

$3,295 /mo

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NMLS #757416

5.868%

15-Year Fixed

5.750%

$3,060

Includes 0.765 points for $3,060

Lender Fees: $0

$3,322 /mo

Next >

NMLS #1025894

5.886%

15-Year Fixed

5.750%

$3,512

Includes 0.703 points for $2,812

Lender Fees: $700

$3,322 /mo

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NMLS #1067

5.891%

15-Year Fixed

5.750%

$3,652

Includes 0.913 points for $3,652

Lender Fees: $0

$3,322 /mo

Next >

NMLS #3030

6.532%

15-Year Fixed

6.375%

$4,000

Includes 1.000 points for $4,000

Lender Fees: $0

$3,458 /mo

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NMLS #1661781

6.620%

30-Year Fixed

6.500%

$5,173

Includes 1.000 points for $4,000

Lender Fees: $1,173

$2,529 /mo

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NMLS #1025894

6.735%

30-Year Fixed

6.625%

$4,564

Includes 0.966 points for $3,864

Lender Fees: $700

$2,562 /mo

Next >

NMLS #757416

6.822%

30-Year Fixed

6.750%

$2,968

Includes 0.742 points for $2,968

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1067

6.838%

30-Year Fixed

6.750%

$3,620

Includes 0.905 points for $3,620

Lender Fees: $0

$2,595 /mo

Next >

NMLS #1661781

7.244%

5-Year ARM

7.125%

$4,977

Includes 0.951 points for $3,804

Lender Fees: $1,173

$2,695 /mo

Next >

NMLS #3030

7.338%

30-Year Fixed

7.250%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,729 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

The commission cost is a common concern when it comes to selling a home with a Realtor, but it is worth considering the value and benefits they bring to the table. Typically, Realtors charge a commission of 5-6% of the sale price of the home. While this may seem like a large expense, it is important to remember that a Realtor's commission is typically split between the seller's and the buyer's agents, and that a Realtor's expertise can often help you sell your home for a higher price than you would be able to on your own.

In addition, a Realtor can also help you with the mortgage process, which can be a complex and time-consuming task. They can connect you with lenders who can offer you the best mortgage rates, and help you navigate the paperwork and regulations involved in getting a mortgage.

In conclusion, selling a home can be a challenging task, but using a Realtor can make the process much smoother and more successful. The commission cost may be a concern, but the expertise, knowledge and guidance they provide can help you get the best possible price for your home, and take care of the legal and administrative aspects of the process. Furthermore, the assistance with the mortgage process is an added benefit to consider.

Demand for Homes Has Changed Due to Remote Work

Current economic conditions have led to an increase in the number of people looking to move to different areas, either due to remote working or due to a change in lifestyle preferences. This has led to a high demand for homes in certain areas and an increase in prices.

Furthermore, many people are looking for larger homes or homes with more outdoor space, as a result of the pandemic, which means that homes that fit this criteria are in high demand and can be sold quickly and at a higher price.

In summary, now is a good time to sell a home because of the current strength of the real estate market, high demand for homes in certain areas, and the increase in people looking for larger homes or homes with more outdoor space. However, it's worth noting that the real estate market is constantly changing, and it's important to consult a local Realtor to get a better understanding of the market conditions in your specific area.